FTI: August industrial sentiment index hit the lowest level in 8 months

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BANGKOK, 20 September 2012 – The latest survey has shown that Thailand’s industrial sentiment hit the lowest point in 8 months in August. 

The Federation of Thai Industries (FTI) Chairman Payungsak Chartsutipol said on Wednesday that the country’s industrial confidence index stood at 98.5 percent in August, slightly down from the 98.7 mark recorded in July.

Mr. Payungsak said that the index has fallen below the 100-point level for 2 months in a row and, last month, hit the lowest level in 8 months.

He stated that such a scenario showed that Thai entrepreneurs have not been quite confident in their business outlook, partly because of the global economic slowdown.

The FTI Chairman said that the 3-month confidence index was at 105.7 in August, up slightly from 104.8 in July, as a result of a number of factors, from the overall car purchase orders, to the number of cars produced, the producers’ costs and their earnings.

He added that automakers have suggested that the government try its best to assure all involved about the readiness of the state-initiated flood prevention and to introduce more measures to help those hit by the increase in the country’s daily minimum wage to 300 baht, due to be in effect on January 1st, 2013.

They also called for more incentives for joint investment with neighboring countries in order to help boost exports.